Solana News Today: Bitwise VanEck Push SEC for LSTs in Solana ETFs

Bitwise and VanEck, in collaboration with Jito Labs and the Solana Policy Institute, are actively lobbying the U.S. Securities and Exchange Commission (SEC) to approve the inclusion of liquid staking tokens (LSTs) in potential Solana exchange-traded products (ETPs), including ETFs. This initiative is part of a broader industry push to enhance the capital efficiency and utility of Solana-based investment vehicles [1]. LSTs, such as JitoSOL, allow investors to stake their assets while maintaining liquidity, potentially increasing returns without locking up funds [2].

The proposal has drawn support from multiple institutional players, including Multicoin Capital, and is grounded in prior SEC guidance on structured investment products. Advocates argue that integrating LSTs into ETPs enhances liquidity, reduces risk, and offers higher yields for investors. This could set a regulatory precedent for future ETPs that include staking as a core feature, particularly for blockchains like Solana [3].

The regulatory engagement has intensified in recent months, with seven asset managers—Grayscale, VanEck, Bitwise, Franklin Templeton, Fidelity, Canary, and CoinShares—submitting revised S-1 registration statements to the SEC on July 31, 2025. These amendments signal ongoing efforts to align product structures with regulatory expectations and pave the way for broader crypto ETF approvals [4]. While the SEC has not yet given a definitive response, industry experts suggest the inclusion of staking in Solana ETFs remains a key unresolved issue.

Jito Labs has co-authored a letter with other stakeholders urging the SEC to consider the viability of LSTs in ETPs. The firm’s advocacy reflects a broader industry strategy to incorporate yield-generating mechanisms into regulated investment products, aligning with trends in institutional-grade digital asset management [5]. The regulatory debate centers on whether staking should be classified as a securities transaction under existing laws.

BlackRock has also explored integrating staking into its Ethereum ETF framework, indicating a potential openness from the SEC toward including yield mechanisms in ETPs, provided certain conditions are met [6]. Analysts are closely monitoring these developments, with some estimating a 95% likelihood of SEC approval for spot Solana ETFs, though the inclusion of LSTs remains uncertain.

The push for liquid staking in Solana ETPs highlights the growing convergence between blockchain innovation and institutional finance. If approved, these products could redefine how investors interact with crypto assets, offering enhanced flexibility and returns. The outcome of the SEC’s review will have significant implications for the broader adoption of crypto-backed ETPs and the regulatory landscape for digital assets.

Sources:

[1] Cointelegraph, [https://cointelegraph.com/news/jito-labs-vaneck-sec-liquid-staking-solana](https://cointelegraph.com/news/jito-labs-vaneck-sec-liquid-staking-solana)

[2] CoinMarketCap, [https://coinmarketcap.com/community/articles/688d135bdb477a6adc3edbe7/](https://coinmarketcap.com/community/articles/688d135bdb477a6adc3edbe7/)

[3] CoinGape, [https://coingape.com/bitwise-vaneck-push-sec-approval-for-lsts-in-solana-etfs/](https://coingape.com/bitwise-vaneck-push-sec-approval-for-lsts-in-solana-etfs/)

[4] Coinspeaker, [https://www.coinspeaker.com/solana-etf-bitwise-fidelity-canary-s1-amendments/](https://www.coinspeaker.com/solana-etf-bitwise-fidelity-canary-s1-amendments/)

[5] Cryptobriefing, [https://cryptobriefing.com/spot-solana-etf-sec-filings/](https://cryptobriefing.com/spot-solana-etf-sec-filings/)

[6] Cryptopolitan, [https://www.cryptopolitan.com/jito-labs-request-sec-to-approve-staking/](https://www.cryptopolitan.com/jito-labs-request-sec-to-approve-staking/)